Real estate firm Compass has rolled out Compass Bridge Loan Services, a new solution for homes sellers looking to buy their next home before selling their existing residence.
According to the company, Compass Bridge Loan Services enables sellers to access faster processing and dedicated support from lenders including Better.com and Freedom Mortgage. Sellers can apply for up to six months of loan payments and Compass stated that it would use its own funds to support the no out-of-pocket costs offering.
"We are incredibly excited to be able to offer Compass Bridge Loan Services to home buyers and sellers across the country," said Carly Litzenberger, senior director of new ventures at Compass. "Until now it's been far too difficult for homeowners to easily access the equity in their homes. By unlocking this capital, Compass is putting the power back in the hands of the homeowner and bringing a new group of buyers to the housing market."